March 13, 2019
After reaching the low end of the range trading pattern of the last two months, LME 3M aluminum prices experienced solid gains for a second-consecutive session, closing at a near two-week high of $1,905 per mton (up 1.8% or $33 per mton from yesterday). Aluminum outperformed gains across the base metals complex, seemingly supported by declining market fear levels, and better-than- expected US construction spending and European industrial output data. Prices have range traded inside $1,850–$1,930 per mton for most of the year, but the next two weeks could be crucial.